FTSE inches up after two sessions in the red

London's FTSE 100 recovered from two sessions of losses on Monday, as China's moves to counter the economic impact of the coronavirus epidemic soothed some of the nerves which have dominated the past fortnight's trading. The FTSE 100 climbed 0.3%, with all sectors in positive territory, while the midcap index rose 0.2% by 0805 GMT.

NMC Health, which has been the target of a Muddy Waters' short-selling attack since December, gave up another 3.2% after the hospital operator said its founder B.R. Shetty has resigned as non-executive chairman. The number of reported new cases of coronavirus in China's Hubei province, the epicenter of the outbreak, fell for two consecutive days before rising again on Monday.

China's central bank cut the interest rate on its medium-term loans on Monday as it seeks to safeguard the economy from the impact of the virus, which has killed 1,770 people and led to widespread moves in and outside China to halt its spreading.